Years Ended
-----------
October 30, October 31, October 25,
1994 1993 1992
------------ ------------ -----------
Earnings per Common Share - Primary:
Average shares outstanding 41,042,134 39,868,386 41,048,979
Net effect of dilutive stock options --based on
the treasury stock method using average market price 256,927 529,520 (A)
---------- ---------- ----------
Totals 41,299,061 40,397,906 41,048,979
========== ========== ==========
Income before extraordinary charge and cumulative
effect of change in accounting principle $ 62,594,206 $ 58,009,978 $(26,576,633)
Extraordinary charge on early extinguishment of debt (1,037,808)
Cumulative effect of change in accounting for
income taxes 4,468,386
---------- ---------- ----------
Net income $ 66,024,784 $ 58,009,978 $(26,576,633)
========== ========== ==========
Per share amount:
Income before extraordinary charge and cumulative
effect of change in accounting principle $ 1.52 $ 1.44 $(.65)
Extraordinary charge on early extinguishment of debt (.03)
Cumulative effect of change in accounting for
income taxes .11
---- ---- ----
Net income $ 1.60 $ 1.44 $(.65)
==== ==== ====
Earnings per Common Share - Fully diluted:
Average shares outstanding 41,042,134 39,868,386 41,048,979
Net effect of dilutive stock options --based on
the treasury stock method using the quarter-end
market price, if higher than average market price 264,408 551,553 (A)
Assumed conversion of 8.5% zero coupon
convertible debentures 5,213,456 5,224,513 (A)
---------- ---------- ----------
Totals 46,519,998 45,644,452 41,048,979
========== ========== ==========
Income before extraordinary charge and cumulative
effect of change in accounting principle $ 62,594,206 $ 58,009,978 $(26,576,633)
Add 8.5% zero coupon convertible debentures interest,
net of income taxes 4,110,057 3,762,551 (A)
---------- ---------- ----------
Total before extraordinary charge and cumulative
effect of change in accounting principle 66,704,263 61,772,529 (26,576,633)
Extraordinary charge on early extinguishment of debt (1,037,808)
Cumulative effect of change in accounting
for income taxes 4,468,386
---------- ---------- ----------
Net income $ 70,134,841 $ 61,772,529 $(26,576,633)
========== ========== ==========
Per share amount:
Income before extraordinary charge and cumulative
effect of change in accounting principle $ 1.43 $ 1.35 $(.65)
Extraordinary charge on early extinguishment of debt (.02)
Cumulative effect of change in accounting
for income taxes .10
---- ---- ----
Net income $ 1.51 $ 1.35 $(.65)
==== ==== ====
(A) Due to the net loss of the Company for the 1994 fiscal year, both
primary and fully diluted earnings per share utilized average shares
outstanding as both the common stock equivalents and convertible
debentures have an anti-dilutive effect.
/TEXT
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>14
<DESCRIPTION>SUBSIDIARIES OF SHONEY'S, INC.
<TEXT>
SUBSIDIARIES OF SHONEY'S, INC.
State (or other
jurisdiction) of
Name incorporation
---- ----------------
Commissary Operations, Inc. Tennessee
Corporate Benefit Services,
Incorporated of Nashville Tennessee
Evadon Corporation Tennessee
Mike Rose Foods, Inc. Tennessee
Pargo's of Frederick, Inc. Tennessee
Pargo's of York, Inc. Tennessee
RJR Investments, Inc. Nevada
Shoney's of Canada, Inc. Canada
Shoney's Equipment Corporation Tennessee
Shoney's International, Inc. Nevada
Shoney's Investments, Inc. Nevada
Shoney's Real Estate, Inc. Tennessee